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Oct 17, 2012
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of citi is no longer. harvey pitt is here to discuss what that means for the banking industry as a whole. >>> and with a number of blue chips beating so far and today's housing hitting a near year high, are perfect gains likely for u.s. markets? david rosenberg and richard bernstein of rich bernstein advisers will be here to lay out their take on the next move for the markets. >> but first, bank of america reporting thrd quarter losses after uk taxes and some accounting adjustments. what we saw here during the quarter was basically a break even on the eps side. that was a slight dip for the bank, but the bank noted that several items contributed to the break even mark and most namely, the $1.6 billion in lit gailg investigation from merrill lynch. premarket investors thought that was a good thing. you're getting some legacy issues out from underneath you and the bank put a cap on what it expects to turn into in the near term. the shares are up a little bit again. they went down about 1% while moynahan was
of citi is no longer. harvey pitt is here to discuss what that means for the banking industry as a whole. >>> and with a number of blue chips beating so far and today's housing hitting a near year high, are perfect gains likely for u.s. markets? david rosenberg and richard bernstein of rich bernstein advisers will be here to lay out their take on the next move for the markets. >> but first, bank of america reporting thrd quarter losses after uk taxes and some accounting...
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Oct 3, 2012
10/12
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yet another city in northern california is going broke. find out why silicon valley may not be the economic engine and job creator that everyone thinks it is. a lot more on california's state of pain next. and then later, what if you could get data on your cell phone to check the web, update your facebook page for nearly free? we we will tell you how. mike rowe here at a ford dealer with a little q&a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120. where did you get that sweater vest? your ford dealer. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions
yet another city in northern california is going broke. find out why silicon valley may not be the economic engine and job creator that everyone thinks it is. a lot more on california's state of pain next. and then later, what if you could get data on your cell phone to check the web, update your facebook page for nearly free? we we will tell you how. mike rowe here at a ford dealer with a little q&a for fiona. tell me fiona, who's having a big tire event? your ford dealer. who has 11 major...
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Oct 4, 2012
10/12
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the reason for this rally we've seen on netflix, we had upgraded citi earlier. the customer satisfaction at the firm appears to be improving. in the course of the wake of the price de-bach o'last year, that's good news to shareholders. carl, back to you. >> that is a big deal for a name that's been kicked around. thanks a lot, mary. >>> as you might have heard, mark zuckerberg speaking out about their growth. you're going whaer what he told matt lauer in just a few moments. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. \s 12 >>> it's a new milestone for facebook, announcing they have more than a billion users. ceo mark zuckerberg speaking to matt lauer in an exclusive interview. >> if a company has a billion users, how can they not be killing it. >> we're a publi
the reason for this rally we've seen on netflix, we had upgraded citi earlier. the customer satisfaction at the firm appears to be improving. in the course of the wake of the price de-bach o'last year, that's good news to shareholders. carl, back to you. >> that is a big deal for a name that's been kicked around. thanks a lot, mary. >>> as you might have heard, mark zuckerberg speaking out about their growth. you're going whaer what he told matt lauer in just a few moments. if we...
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Oct 18, 2012
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so the city may sell its mineral rights and allow energy companies to drill or frack on city land. experts say fracking or pumping chemicals into the ground filled with oil and natural gas is filled with unknown risk, like the possibility of causing earthquakes and groundwater contamination. >> are you that crazy for money? >> i guarantee you, we will organize under the first amendment everybody in here and bring the wrath of god into this chamber and power back to the people. >> reporter: other cities have already sold their mineral rights. in scio, ohio, the money from drilling will pay for new sidewalks, water treatment, and perhaps give the town a shot in the arm. >> a few years ago, every storefront just about was empty. now there's new business coming in. >> reporter: as cities struggle with tight budgets, a windfall of millions of dollars trapped under public lands is a tempting capital to their cash crunch. >> this is something that could help the area not only now but 10, 20, 50 years from now, just like when the steel mills came here. >> reporter: back live in youngstown,
so the city may sell its mineral rights and allow energy companies to drill or frack on city land. experts say fracking or pumping chemicals into the ground filled with oil and natural gas is filled with unknown risk, like the possibility of causing earthquakes and groundwater contamination. >> are you that crazy for money? >> i guarantee you, we will organize under the first amendment everybody in here and bring the wrath of god into this chamber and power back to the people....
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Oct 8, 2012
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it's the third largest city in the united states of america. there's no reason that it shouldn't be among the top tier in terms of innovation technology companies that get built. groupon being one example. but at lightbank, we're in over 50 companies. doing amazing things. this is just one more part of the cocktail that gets built that allows us to get great entrepreneurs and great ideas and help get them off the ground. >> eric, from your perspective as venture capitalists and co-founders of groupon, the stock is down more than 50%. i'm being generous. since it ipo'd at the new york stock exchange. i'm wondering what you think went wrong when it came to this issue. >> first of all, we're not here to talk about groupon -- the guy you should talk to is andrew, the ceo. but i think in general, when you look at the recent ipo of facebook, zynga, groupon, there's no question that these companies have been very volatile and investors have bounced around quite a bit over the past few months. and why that is, i'm not an expert in the field and couldn'
it's the third largest city in the united states of america. there's no reason that it shouldn't be among the top tier in terms of innovation technology companies that get built. groupon being one example. but at lightbank, we're in over 50 companies. doing amazing things. this is just one more part of the cocktail that gets built that allows us to get great entrepreneurs and great ideas and help get them off the ground. >> eric, from your perspective as venture capitalists and...
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Oct 5, 2012
10/12
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citi says they see them tracking above consensus. consensus is 2%. citi thinks they're looking up 3%. as a result, shares are higher, carl. back to you. >> thanks so much. let's take a quick check of the markets. the dow sitting near its highest levels in almost five years since december 2007 on the back of that strong jobs number, perhaps. s&p not quite at an intraday high for the year and 1469 and got to get to 1474.51 to set a new interview intra day high for 2012. when we come back, more pain at the pump and up next we'll find out yet perfect storm will be brewing in california. a state that refines its own gasoline and why stations are closing their doors. that's next. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. you know it can be hard to lbrea
citi says they see them tracking above consensus. consensus is 2%. citi thinks they're looking up 3%. as a result, shares are higher, carl. back to you. >> thanks so much. let's take a quick check of the markets. the dow sitting near its highest levels in almost five years since december 2007 on the back of that strong jobs number, perhaps. s&p not quite at an intraday high for the year and 1469 and got to get to 1474.51 to set a new interview intra day high for 2012. when we come...
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Oct 15, 2012
10/12
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citi beat on the top and bottom line. since we started with the financial stocks, guys, everybody has done very well. the one exception is wells fargo, very closely tied, of course, to the mortgage market and those net interest margins getting compressed hurting them. overall so far, so far earnings have not been awful. by the way, q4 they're lowering their numbers but not as fast as they were lowering them in q3. >> are on the record time stamped with q3 is the trough? >> i think right now the evidence is it's going to be, and i think q3 earnings could be positive. i know everybody says they're going to be negative. i think you watch at the end of the day, they'll end up not a lot. >> going to be close. thanks, bob. let's get back to headquarters. seema mody has a market flash for us. >> you better watch out, santa may not be delivering enough toys this hol dye season. goldman sachs citing accelerated declines in toy spending. lowering estimates for mattel, another player in that space, jakks also moving in sympathy. >>
citi beat on the top and bottom line. since we started with the financial stocks, guys, everybody has done very well. the one exception is wells fargo, very closely tied, of course, to the mortgage market and those net interest margins getting compressed hurting them. overall so far, so far earnings have not been awful. by the way, q4 they're lowering their numbers but not as fast as they were lowering them in q3. >> are on the record time stamped with q3 is the trough? >> i think...
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Oct 11, 2012
10/12
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we own city habitat, the largest rental brokerage market in the city. we're on the corcoran side, as you know. but it is becoming better and cheaper to own than to rent. there are a number of sources of data on that point. axio metrics which is a firm that follows the rental industry, in 98 out of 100 markets tested, it was cheaper to own than to rent. multi-family industry has literally priced itself out of the market and we are the beneficiary of that. >> finally, mr. smith, a number of hedge funds, large money management funds bought the convertible debentures. we focus on the 180-day lockup. do you expect there will be a lot of selling when that 180 days expires? >> i have no idea what they'll do long term. listen, i'm not focused on that. i'm focused on running the company, doing what's best for shareholders and that's why we're here today. >> you're having a good day so far. thanks for joining us. >>> i want to get back to our big news of the morning. sprint shares still up sharply on our reports and others that japanese company softbank in advanc
we own city habitat, the largest rental brokerage market in the city. we're on the corcoran side, as you know. but it is becoming better and cheaper to own than to rent. there are a number of sources of data on that point. axio metrics which is a firm that follows the rental industry, in 98 out of 100 markets tested, it was cheaper to own than to rent. multi-family industry has literally priced itself out of the market and we are the beneficiary of that. >> finally, mr. smith, a number of...
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Oct 29, 2012
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that could be atlantic city. then moving inland overnight, could be near baltimore tomorrow morning with 70 mile per hour winds. then taking a turn through pennsylvania. back up through upstate new york. a huge, prolific wind maker. we think it sticks around for several days once it makes that landfall. obviously when you've got that big of a wind machine, you've got likely power outages. areas in red from maine through western north carolina they're already reporting power outages this morning. then possible power outages across the great lakes all the way back to chicago. this is a huge wind and wave maker. look at virginia beach right now. gusting to 34. winds right now at buoys are at 45 and 22 foot waves. 31 foot waves closer to the center of circulation. look at some of these numbers. very impressive. winds coming out of the northeast at 47. gusts to 38 at bridgeport. 40 at newport. we've had gusts as high as 66, by the way, at boston. right now at 49. the waves are 26 to 12 feet. it's going to be a huge wa
that could be atlantic city. then moving inland overnight, could be near baltimore tomorrow morning with 70 mile per hour winds. then taking a turn through pennsylvania. back up through upstate new york. a huge, prolific wind maker. we think it sticks around for several days once it makes that landfall. obviously when you've got that big of a wind machine, you've got likely power outages. areas in red from maine through western north carolina they're already reporting power outages this...
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Oct 19, 2012
10/12
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tier one and tier two cities they are seeing softness. we'll hop back on the call and have more a little later on. >> the question might be not whether they are gaining share but how much share relative to past periods. looking forward to some more details. want to bring in bob pisani. interesting day. >> 4-1 declining to advancing stocks. the euro dropped and germany was down a little bit. that's why we had this little move to the down side. the problem with today is earnings. we hit a tough match. the bank earnings came in better than expected. now we're getting industrials, materials and as well as tech names and it's a little rockier right now. look hats going on. microsoft obviously we had some weakness overall. personal computers. business software, that was a little bit of a surprise. weakness there. advanced micro, exposed to the pc business and after you saw what was going on with microsoft, video is a big rival to amd. down 14%. advanced micro is laying off 15% of their workforce. put up the industrials and materials. we got a l
tier one and tier two cities they are seeing softness. we'll hop back on the call and have more a little later on. >> the question might be not whether they are gaining share but how much share relative to past periods. looking forward to some more details. want to bring in bob pisani. interesting day. >> 4-1 declining to advancing stocks. the euro dropped and germany was down a little bit. that's why we had this little move to the down side. the problem with today is earnings. we...
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Oct 22, 2012
10/12
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the tale of two cities, it's the worst thing that could happen when active managers try to closet index. >> you try to skate to where the puck is going. that's how you're successful in investing and closet indexing as we pointed out that day, the closet index that all essentially got market weighting positions in apple. look at what happened last week in google. same thing, if you look at the mutual funds, the guy who tracked looked at it. google was the same thing. market weighted. why do you need to know about this? because when you get the closet index owning essentially the market weighting, where is the incremental buying coming from? you saw that in apple and google. he mentions to me, the gentleman who tracks this stuff, he says this is where the puck is going. take a look, we put a list together about where the closet indexes who are essentially trying to track certain indexes are underweight. china, financials, indonesia, bhp and select energy names. this is how when you track the closet indexes, you're able to take advantage of where they are and where they are not. and if you
the tale of two cities, it's the worst thing that could happen when active managers try to closet index. >> you try to skate to where the puck is going. that's how you're successful in investing and closet indexing as we pointed out that day, the closet index that all essentially got market weighting positions in apple. look at what happened last week in google. same thing, if you look at the mutual funds, the guy who tracked looked at it. google was the same thing. market weighted. why...
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Oct 23, 2012
10/12
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boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi® card to get the benefits of private pass. more concerts. more events. more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with a citi card. [ crowd cheering, mouse clicks ] >>> on a down day, the hard drive makers are the biggest losers. western digital reporting a first quarter bead. weak pricing and delays because of windows 8. you can see today it gets a sell rating over at capital iq on the back of those earnings. and seagate technologies reports next week, and it's suffering clit ral damage there. >> thanks a lot, bertha. today's selloff started overseas, and now there's only a few moments left in europe's trading day. going to be interesting to see how it affects us here in the u.s. >>> simon hobbs, art cashin made the point earlier on, if you need to sell, sometimes you go where the market is sti
boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi® card to get the benefits of private pass. more concerts. more events. more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with a citi card. [ crowd cheering, mouse clicks ] >>> on a down day, the hard...
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Oct 10, 2012
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. >> tier seven cities the size of philadelphia, tier one, two, three, i love the tier one, tier two, tier three. >> costco. >> $1.39, beats $1.31, same-store sales up six, x fuel, where you made your money from 1981? >> yes. they were furious i didn't -- i haven't upgraded executive. it is my bad. i've been time constrained. >> a lot of discussion about how expense self they are relative to a walmart or a target, is valuation the main theme here? >> well, the stock is expensive priced for perfection. they deliver perfection, carl, as you know, it was perfection, a lot of people thought that post jim senegal they couldn't deliver, remarkable and not losing as much money on the big screen tvs as i thought. the 60 incher was under $2000 by best buy but you have an insulation problem and it's heavy and i need some guys. >> walmart years ago gave up giving us same-store sales. target is going to do that but costco still does, not worried about it at all and people say it's because everybody's so short term focus, we don't want them to be. this is one of the longest term focused companies
. >> tier seven cities the size of philadelphia, tier one, two, three, i love the tier one, tier two, tier three. >> costco. >> $1.39, beats $1.31, same-store sales up six, x fuel, where you made your money from 1981? >> yes. they were furious i didn't -- i haven't upgraded executive. it is my bad. i've been time constrained. >> a lot of discussion about how expense self they are relative to a walmart or a target, is valuation the main theme here? >> well,...
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Oct 12, 2012
10/12
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so why is citi so confident? joining us on the set, tobias, good morning. >> good morning, how are you? >> i'm actually slightly confused. spent much of the morning poring over this research. cnbc producers go swinging in all directions with excitement. you sat here, one month ago today, the 12th of september, and you said to us that your year-end target for next year was 1615 on the s&p. so a look at this thundering new vote. now you've upgraded u.s. secretaries equities 1615. the target is the same. i don't understand. what's going on? is this about downgrading japan? >> i think part of it is about downgrading japan. part is the earning revision momentum, changes around the globe, where the u.s. was where everybody else was, if you went back a few weeks ago. as everybody was downgrading earnings trends. and now the u.s. has kind of started to separate from what we're seeing around the world. and that does make sense to some degree. >> but to be clear, your view on this market is constant and other things are fa
so why is citi so confident? joining us on the set, tobias, good morning. >> good morning, how are you? >> i'm actually slightly confused. spent much of the morning poring over this research. cnbc producers go swinging in all directions with excitement. you sat here, one month ago today, the 12th of september, and you said to us that your year-end target for next year was 1615 on the s&p. so a look at this thundering new vote. now you've upgraded u.s. secretaries equities 1615....